Breaking: Pfizer says covid vaccine 90% effective, markets jump, dollar falls
|Pharmaceutical giant Pfizer has said that its COVID-19 vaccine study has shown that it prevents 90% of infections and that no serious safety concerns have been identified as of the first interim analysis. The company has been developing a vaccine with Germany's BioNTech. No fewer than 43,500 have been participating in the Phase 3 trial.
Developers say it is a "great day for science and humanity" and will apply for emergency approval to use the vaccine by the end of November. Pfizer believes it can supply it 50 million doses by the end of 2020 and 1.3bn by end of 2021.
Equities are jumping with S&P futures up 3%. The safe-haven dollar is falling. with EUR/USD nearing 1.19. GBP/USD has advanced toward 1.21 and USD/JPY is above 104, amid a diminishing need for the safe-haven yen. Gold is falling as the need for stimulus is falling.
Commodities are also on the rise, here is how the move looks on oil prices:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.